<p>Earlier this week, an anonymous bot operator using a Maximal Extractable Value (MEV) strategy reportedly <a href="https://twitter.com/SeaLaunch_/status/1648608182120378368?s=20" target="_blank" rel="noreferrer noopener nofollow">made over $1 million</a> using what is known as a sandwich attack, essentially a tool by which an operator takes over a mempool to validate transactions and seek arbitrage on giant pools of transactions.</p> 
<p>The wallet address associated with the operator, linked to the Ethereum Name Service (ENS) domain “jaredfromsubway.eth,” gained $950,000 from the sandwich attacks on April 18, and also profited roughly $300,000 and $400,000 on April 17 and 19, on-chain data show.</p> 
<p>According to Sealaunch, over 24-hour period from April 18 to 19, the MEV bot was responsible for 7% of <a href="https://thenewscrypto.com/ethereum-gas-fees-skyrocket-due-to-sandwich-bot-attacks/" target="_blank" rel="noreferrer noopener">all Ethereum gas fees</a>, which it earned on $PEPE (PEPE) and $WOJAK (WOJAK), meme tokens that propelled jaredfromsubway.eth to the top spot as the largest consumer of gas over the past day and week.</p> 
<div align="center">
 <blockquote class="twitter-tweet">
  <p lang="en" dir="ltr">Wondering why gas is so damn high? <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f62e-200d-1f4a8.png" alt="😮‍💨" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>jaredfromsubway.eth (lmao) is absolutely cleaning up by sandwich-attacking <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$PEPE</a> and <a href="https://twitter.com/search?q=%24WOJAK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$WOJAK</a> trading activity. They are #1 gas spender over the past day and week.<br><br>MEV sandwich bots on Ethereum have made $100M+ since the weekend. <a href="https://t.co/qhxyxlac20" target="_blank" rel="nofollow">https://t.co/qhxyxlac20</a></p>— Matt Willemsen (@matt_willemsen) <a href="https://twitter.com/matt_willemsen/status/1648506054538579968?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">April 19, 2023</a>
 </blockquote> 
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</div> 
<h3 class="wp-block-heading" id="h-what-is-a-sandwhich-attack">What is a sandwhich attack?</h3> 
<p>A sandwich attack occurs when an entity places their own two transactions around a victim’s transaction with the intention of manipulating the price and profiting from the user, it is referred to as a sandwich attack.</p> 
<p>Though not immune from other proof-of-stake cryptocurrencies, Ethereum (ETH) is particularly susceptible to <a href="https://thenewscrypto.com/ethereum-posing-sandwich-attack-will-solana-cardano-beat-eth/" target="_blank" rel="noreferrer noopener">sandwich attacks</a> because it ranks as the second-largest coin with 3,079,109 watchlists. It is a blockchain-based platform that enables the creation of decentralized applications through the use of smart contracts and is a significant protocol used in decentralized finance (DeFi) and non-fungible tokens (NFTs).</p> 
<p>According to CoinMarketCap, ETH’s value dropped by 5.94% after news of the explot, with traders expressing bearish sentiment and some taking to Twitter to express their displeasure at the sandwich attack.</p> 
<p>As of April 2023, Mev Blocker reports that MEV Bots have so far extracted more than $1.38 billion from <a href="https://thenewscrypto.com/tag/ethereum/" target="_blank" rel="noreferrer noopener">Ethereum users</a> who are engaged in transacting on the network, be it to mint an NFT or send wrapped ETH for a small transaction.</p> 
<p>Several entities have recently popped up attempting to draw attention to the issue and safeguard Ethereum users from sandwich attacks. According to a report<em>, </em>earlier this month<em> </em>over 27 prominent Ethereum projects joined hands to launch MEV Blocker, a consortium that aims to prevent MEV exploits.</p>

What are MEV Sandwich Attacks and Why Everyone in Crypto Should Know About Them?

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